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Ann: Appendix 4C Quarterly (Q4 2022) and Business Update, page-17

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Shortblack

727 Posts.

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17/01/23

19:17

Post #: 65739697
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Originally posted by dafter1976: ↑

In respect of the ASIC and AFP investigations - and calls for updates - they have disclosed the existance of these investigations. ASIC and the AFP would not provide PET with regular updates on their investigation and their next reporting obligation would be where action is taken by either law enforcement body.

To the extent that they become aware of investigative steps being taken by either party (either through notices or compulsion of witnesses to give evidence), PET can not and should not provide a running commentary on those steps to the market. What action do you think the AFP / ASIC would take if PET announced to the market all of the investigative steps that they become aware of?..... it is a criminal investigation!

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Everything you have said is absolutely true.

However it's my opinion that they need to at least make the comment that the investigations are still ongoing.

There are investors out there who are not necessarily aware of the investigations, and all investors need to take into account that further legal fees (& other costs) will be incurred in relation to these matters, when reading financial updates & outlooks.

PET Price at posting: 4.1¢ Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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